Fairwater in Blacktown by Australand

Yes I'm from Greenbank and I don't have a settlement date yet. I'm scheduled for inspection this coming Thursday.

i see..cool..thanks..i have my inspection on the 9th..

If you do not mind me asking what is your house number?

Hi Dasi, am from Greenbank too, still waiting for PSI call

1048

ANZ has replaced WBP Valuers to Opteon Valuers. Opteon will be doing the valuation within next 2 days.

I've never heard of Opteon Valuers but a quick research seems to indicate they are more like CBRE, likely to give higher valuation for investment properties. CBA rep told most of the valuation gets done by CBRE for their investment home loans.

CBA rep made a suggestion to me that getting a copy of the valuation of our Fairwater neighbors would help in case valuation comes lower than the contract price.
If anyone don't mine sharing their valuation report, it would be a great help for those who are yet to get bank valuation done like myself and many others here. Apparently bank can communicate with the valuer with evidence suggesting for a higher valuation and adjustment when possible.

Below is the email which I got today.

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Notification of Settlement Date: CN4121, Fairwater.

We are pleased to advise that we have now received the Occupation Certificate and Notice of Registration for your new home in Fairwater, and have advised your legal representative as such. Please be advised that your settlement is due on:
23rd September 2016

In preparation of your upcoming settlement, we would like to provide you with some important information that will assist you through the settlement process:

You may wish to contact your legal representative to book in a time for your settlement to take place.
Once your legal representative has booked in a settlement time, please contact the Customer Relations Team to arrange your key handover. The handover will take place a minimum of one hour after settlement is booked to occur.
If your bank has not undertaken the relevant inspections on your property, they should do so immediately. Please contact your finance provider and ask that they contact 13 10 25 to organise an inspection time.
You will now be in a position to start connection of your electricity and gas. The current provider, Energy Connections NSW, are available via phone on 1300 880 976 and will be able to help you with this process.
Please remember that your new apartment is NBN ready, so you will be able to contact your service provider regarding your new phone and internet services.
PROSPERITY REPEAT PURCHASE REWARDS

Prosperity is Frasers Property’s loyalty rewards program. If this is the second, third or subsequent property you have purchased from Frasers Property, you are entitled to a price reduction on your property purchase of either 2% or 3%, rebated after settlement. This applies to property purchases that have completed exchange of Contract for Sale, after 1 March 2016. If this is the case, you will be contacted by our staff shortly after settlement to arrange this rebate. Terms and Conditions apply visit www.frasersproperty.com.au/Prosperity

If you require any additional information, we invite you to make contact with the Customer Relations Team on 13 10 25.

Kind regards,

Frasers Property Customer Relations Team
13 10 25
customerrelationsnsw@frasersproperty.com.au

Hi E1794

So are you planning to stay with CBA? I've been banking with them for many years and have a current mortgage with them. I plan to compare rates and negotiate with them when our house gets close to settlement. Please let me know how it goes with them if you do and the valuer they use.

Many thanks

Hi, I will defnitely. I'm also dealing with NAB as well via broker. He reckons he can get better than 4.07% investment rate, P&I.

Anybody purchase two bedroom ? What is the valuation ? Same as contract price ? What will happen if valuation below contract price and we have no enough money to pay ? Please advise

Worst scenario is you will default and lose the house if you are unable to pay the short fall. You won't get your deposit back. The developer might sue you for damages. Remember you signed the contract so it's your obligation to fulfill it.

HI All

We have got settlement date of 23rd Sept. Our PSI is next week. Does anyone know when is the first home owner grant applied for and do we get it before settlement? Also, is the stamp duty payable before settlement and what else is required on settlement date?

Ours is a 2 bed townhouse, Torrens titled.

stamp duties are due on the day of settlement or 15 months from signing the contract...which ever that comes first...your solicitor should alert you to it...note that any delays on the stamp duty will result you incurring interest on a daily basis...

For me my broker is taking care of the first home owners grant for me and since I intend on using it for settlement that money will be given to my solicitor who in turn will take it with him on the day of settlement..hope this helps...

Thanks DASI. We are planning to use our first home owner grant. It is just too many things now with less than 3 weeks left. We have also been told by our broker that Building insurance needs to be arranged before settlement. Any recommendations on that?

We are in Avenue collection and did not expect it to be settled before you guys do.

i see..

Yes, you need to have at least building insurance with the cover starting on the day of settlement, otherwise the lender may refuse to draw out the loan. This is mainly because they need assurance that you have access to sufficient funds in case the worst happens and needs to rebuild the house...otherwise it is a liability for the lender to have given a loan to a house that does not exist...this is how my lender explained it to me....

i have been looking around getting quotes for insurance..and i have been getting both building and content together as it works out to be cheaper..i am going to pick from either NRMA, Allianz or Real insurance...of the three NRMA is by far the most expensive i have come across and that is mainly because they provide cover for mud slides, land slides, tsunami and floods caused by over flow of lakes, rivers...Allianz and Real insurance does not cover that..given the location of fairwater i do not think we will ever need to concerned about tsunami or landslides or mudslides...there is a tiny lake near the sales centre not sure if it will overflow in case of excessive rain...apart from that all three of these companies sort of have a similar cover...according to the feedback on the Facebook page quite a number of current residents have got Woolworths home insurance...I do not know much about it but I think it is the cheapest of them all...but again I do not know how they are when it comes to claims..

FYI the quotes i got so far for 800k building and 70k content,
NRMA - $2700
Allianz and Real - around $1300-1400....

NRMA is quiet expensive. Thanks DASI. I will get quotes from several companies, ours would be $400K for building as explained by the broker.

Good luck with the settlement:)

thanks...yes 800k was an over estimate...it wont take us 800k to rebuild ours..i just put in a high value to check what the premiums would be...

Good luck with your settlement too...we are still waiting to receive a date for our settlement, however our PSI is on Friday...

Hi guys, mine is a Torrens title with community plan, does community plan fee takes care of Home insurance as well or do I need to get one separate?

Community plan fee is the fee you pay for the body corporate to maintain the car court...home insurance is separate..

Thanks Dasi, just got my settlement date as 21st September.

Nice...i am still waiting to receive the date...i am guessing it should come through soon...

Hi all,

Just heard back from CBRE (NAB) valuers and it is 10% less than the contract price..